Career Profile: Purchasing Managers

Salary and Outlook

According to the US Department of Labor, there are 72,800 people employed as purchasing managers in the United States. The median annual salary is $127,150. Entry level employees earn approximately $77,310 per year and senior employees earn approximately $206,540 (or more) per year.

Estimates do not include other potential benefits such as health insurance, overtime, or retirement benefits that may be offered by employers.

Job Duties

• Develop and implement purchasing and contract management instructions, policies, and procedures.
• Prepare bid awards requiring board approval.
• Direct and coordinate activities of personnel engaged in buying, selling, and distributing materials, equipment, machinery, and supplies.
• Locate vendors of materials, equipment or supplies, and interview them to determine product availability and terms of sales.
• Interview and hire staff, and oversee staff training.
• Prepare and process requisitions and purchase orders for supplies and equipment.
• Review, evaluate, and approve specifications for issuing and awarding bids.
• Control purchasing department budgets.
• Review purchase order claims and contracts for conformance to company policy.
• Resolve vendor or contractor grievances and claims against suppliers.
• Administer online purchasing systems.
• Maintain records of goods ordered and received.
• Analyze market and delivery systems to assess present and future material availability.
• Participate in the development of specifications for equipment, products, or substitute materials.
• Prepare reports regarding market conditions and merchandise costs.
• Arrange for disposal of surplus materials.
• Represent companies in negotiating contracts and formulating policies with suppliers.
• Develop cost reduction strategies and savings plans.

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